Energy

Cruz warns Saudis to stop using oil in ‘economic warfare’ against US

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Sen. Ted Cruz told CNBC on Monday he and eight other GOP senators recently ripped into the Saudi ambassador in a conference call over the oil price war with Russia that has threatened to put American producers out of business. 

In a “Squawk Box” interview, Cruz said the call with Princess Reema bint Bandar bin Sultan bin Abdulaziz Al Saud was “as candid a call, and direct a call, as I’ve ever had with a foreign leader.”

“We quite frankly unloaded on her,” the Texas Republican said.

Oil prices have plummeted as Saudi Arabia and Russia remain locked in a price war that began after Russia earlier this month rejected an additional 1.5 million barrels per day production cut proposed by…



Source cnbc.com

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